OneSavings Bank Share News (OSB)

(Sharecast News) - London's FTSE 250 was up by 0.34% at 19,997.28 in afternoon trade on Tuesday, with Hays leading the index higher.
The recruiter rallied as its first-quarter results beat expectations, though it reported a fall in net fee growth from the UK and Ireland as Brexit worries continued to dent business confidence.

AJ Bell analyst Russ Mould said: "Expectations for today's update from recruiter Hays would have been at rock bottom after rivals Robert Walters and PageGroup downgraded earnings guidance last week."

"That explains why the shares are rising strongly despite what looks like a fairly average trading update."

OneSavings Bank was in the green after analysts at RBC Capital Markets raised their target price on the stock from 460p to 480p, while shares of gambling operator Rank Group were trading on the front foot as it said group like-for-like net gaming revenue rose 10% in Q1.

Down at the other end of the index, Vesuvius shares slid after warning that it now expects annual earnings to fall as market conditions continued to weaken through the third quarter.

Bellway also retreated after the housebuilder reported a jump in full-year profit amid strong demand but warned over margins as build cost inflation outstripped house price inflation.

Analysts from Canaccord said: "Overall, the group is in good shape and continues to see good scope to grow volumes over the medium term and margins above 19% are still attractive, but given where valuation has reached on the recent share price bounce, the shares look vulnerable to weakness in the context of a cut to consensus."

Pub and brewery owner Marston's was lower after stating that it expects to report a fall in pre-tax profits due to lower earnings at its destination and premium businesses where higher wage costs hit margins.

Metrology and technology group Renishaw dropped after it posted a fall in first-quarter profit and revenue, warning that trading is likely to remain challenging throughout the rest of the year.

SIG edged downward after analysts at Berenberg lowered their target price for the construction products provider from 135p to 100p following the group's profit warning last week.

Market Movers

FTSE 250 (MCX) 19,997.28 0.34%


FTSE 250 - Risers

Hays (HAS) 151.30p 5.29%
OneSavings Bank (OSB) 378.00p 5.18%
Rank Group (RNK) 209.00p 5.13%
Oxford Instruments (OXIG) 1,320.00p 4.43%
Hochschild Mining (HOC) 191.30p 3.97%
Premier Oil (PMO) 81.46p 3.78%
Grafton Group Units (GFTU) 842.00p 3.76%
AJ Bell (AJB) 378.50p 3.56%
Polypipe Group (PLP) 440.40p 3.38%
Micro Focus International (MCRO) 1,088.60p 3.22%

FTSE 250 - Fallers

Vesuvius (VSVS) 340.00p -18.35%
Bellway (BWY) 3,224.21p -7.67%
Marston's (MARS) 114.40p -6.23%
Bodycote (BOY) 653.85p -6.19%
RHI Magnesita N.V. (DI) (RHIM) 3,626.00p -6.01%
Renishaw (RSW) 3,346.00p -6.01%
Morgan Advanced Materials (MGAM) 235.00p -4.08%
Provident Financial (PFG) 404.30p -3.74%
Spectris (SXS) 2,318.00p -3.38%
SIG (SHI) 105.00p -2.78%